{"id":3663,"date":"2020-09-02T11:02:33","date_gmt":"2020-09-02T01:02:33","guid":{"rendered":"https:\/\/www.www.covertradie.com.au\/?p=3663"},"modified":"2022-07-15T14:36:34","modified_gmt":"2022-07-15T04:36:34","slug":"electrician-public-liability-insurance-cost","status":"publish","type":"post","link":"https:\/\/www.covertradie.com.au\/electrician-public-liability-insurance-cost\/","title":{"rendered":"Electrician Public Liability Insurance Cost"},"content":{"rendered":"\n

<\/span>Electrician Public Liability Insurance Cost<\/span><\/h2>\n\n\n\n

<\/span>Are you paying a fair price for your Electrician Insurance?<\/mark><\/span><\/h2>\n\n\n\n

<\/span>Read on and get the right insurance cover!<\/mark><\/span><\/h2>\n\n\n
\n\nGet A Quote By Email<\/a>\n\n\n\nCall 1300 190 535<\/a>\n\n<\/div>\n\n\n

CoverTradie<\/strong> insights on pricing of Public Liability Insurance for Electrical Contractors will help you get an idea of what prices are being offered and what you should accept. See chart below:<\/p>\n\n\n\n

\"electrician
Small business here means a turnover of $100,000. Prices for $20M public liability cover.<\/em><\/figcaption><\/figure>\n\n\n\n

After reading this article you will be able to get an understanding of how prices track for your trade, make an informed decision on whether the price being offered to you is a fair price and avoid getting ripped off by someone intentionally or accidentally.<\/p>\n\n\n\n

<\/span>How much does Electrician Public Liability Insurance Cost?<\/span><\/h2>\n\n\n\n

There are a large number of prices available in the market. Most insurers see Electricians as a lower risk occupation compared to some other trades, but some insurers don’t. This results in price variations. The table below displays that variation in the cheapest, average and highest prices we observed. See below:<\/p>\n\n\n\n

Category<\/strong><\/td>Cost<\/strong><\/td><\/tr>
Cheapest<\/td> $528<\/span><\/strong><\/td><\/tr>
Average<\/td>$875<\/span><\/strong><\/td><\/tr>
Highest<\/td>$1351<\/span><\/strong><\/td><\/tr><\/tbody><\/table>
1. Small business with an estimated turnover of about $100,000. Prices are for $20 million Public Liability Limit. Lower limits are cheaper but we’ve kept our research to $20M as thats the limit usually required if sub-contracting to other businesses. Source: CoverTradie Research<\/figcaption><\/figure>\n\n\n\n

<\/span>Knowing which insurers price electrical contractor businesses favourably is very important.<\/span><\/h2>\n\n\n\n

Imagine how much more would you pay extra over the years if your broker was not able to find the cheapest price but only something that was close average premium. You’d be paying a LOT!<\/strong> Let’s explore further.<\/p>\n\n\n\n

<\/span>So where do you get this cheap Electrician public liability insurance<\/a>?<\/span><\/h2>\n\n\n\n

The cheapest price was in South Australia but you wouldn’t be surprised to know that prices vary a bit depending on what state you are in.<\/p>\n\n\n\n

Does Sydney take the honours for most expensive insurance for electricians? Given everything else in Sydney is just more expensive like real estate, cost of living etc. then insurance should be too?<\/p>\n\n\n\n

<\/span>Not the case for Electricians. Queensland takes the honours but NSW isn’t far behind.<\/span><\/h2>\n\n\n\n

The cheapest price in Queensland was $862. This means that electricians with a similar size business in Queensland pay about 63% higher for their insurance compared to their South Australian colleagues.<\/p>\n\n\n\n

Now some of that has got to do with market conditions like the cost of doing business in particular states or the volume of claims, the consumer protection legislations have a significant influence.<\/p>\n\n\n\n

<\/span>Queensland Electrician legislation influences the insurance premiums significantly, where electricians pay much more as much compared to other states.<\/span><\/h2>\n\n\n\n
\"public<\/figure>\n\n\n\n

That is just the start of the story, there is more to it which can be observed from the table below.<\/p>\n\n\n\n

State<\/td>Cheapest<\/td>Average<\/td>Highest<\/td><\/tr>
SA<\/td>$528<\/td>$761<\/td>$991<\/td><\/tr>
WA<\/td>$604<\/td>$766<\/td>$982<\/td><\/tr>
VIC<\/td>$645<\/td>$845<\/td>$1,264<\/td><\/tr>
NSW<\/td>$728<\/td>$949<\/td>$1,323<\/td><\/tr>
QLD<\/td>$862<\/td>$1,085<\/td>$1,351<\/td><\/tr><\/tbody><\/table>
Small business with an estimated turnover of about $100,000. Prices are for $20 million Public Liability Limit. Lower limits are cheaper but we’ve kept our research to $20M as thats the limit usually required if sub-contracting to other businesses.
Source: CoverTradie Research<\/figcaption><\/figure>\n\n\n\n

Key points to note from this table are:<\/p>\n\n\n\n